Monday , September 20 2021

Indian Hotels Company rises on getting nod to raise long-term funds worth Rs 250 crore

Indian Hotels Company is currently trading at Rs. 144.15, up by 0.75 points or 0.52% from its previous closing of Rs. 143.40 on the BSE.

The scrip opened at Rs. 141.25 and has touched a high and low of Rs. 147.35 and Rs. 141.25 respectively. So far 200922 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 157.25 on 07-Jul-2021 and a 52 week low of Rs. 78.40 on 10-Aug-2020.

Last one week high and low of the scrip stood at Rs. 149.10 and Rs. 141.25 respectively. The current market cap of the company is Rs. 17155.05 crore.

The promoters holding in the company stood at 40.75%, while Institutions and Non-Institutions held 40.55% and 18.70% respectively.

Indian Hotels Company (IHCL) has received approval for raising long-term funds not exceeding Rs 250 crore by way of secured or unsecured long-term financing in one or a combination of External Commercial Borrowings, Foreign Currency Borrowings, Non-Convertible Debentures, Term Loans or through any other debt instrument in one or more tranches. The Board of Directors of the Company at their meeting held on August 09, 2021 has approved the same.

Indian Hotels Company and its subsidiaries are collectively known as Taj Hotels Resorts and Palaces and recognized as one of Asia’s largest and finest hotel company. It operates in the luxury, premium, midmarket and value segments of the market.

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